The False Primacy of Politics over Markets

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Why Must Politics Have Primacy?

Back in 2010, German Chancellor Angela Merkel was making a major push for “the primacy of politics over the markets.” To a far greater extent, the entire doctrine of Keynesian economics which is now crashing against the rocks of high government debt levels and broad economic reality, is founded on the notion of the primacy of politics: that politics must have such primacy.

My question: why?

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The money you spend may belong to other people, but the political capital is yours alone. Spend wisely.